UTC Chief To Head Up Corporate Tax Push

The Business Roundtable, a national association of chief executives, chose United Technologies Corp.'s Louis Chênevert to lead its push for a reform of the country's tax system, the group said Thursday.

"Adopting a modern, competitive tax system and putting America's fiscal house in order are two of the most urgent policy priorities of U.S. business leaders," Jim McNerney, chief executive of The Boeing Co. and head of the association, said in a written statement.

Specifically, the association's plan to comprehensive tax reform calls for lower corporate tax rates that, it says, are more in line with other developed countries. It supports a simpler, more efficient tax system for individuals and corporations.

"Louis Chênevert's strong record of leadership at the helm of a major and diverse corporation — with a presence in many markets around the world — makes him an ideal choice to lead Business Roundtable's tax and fiscal policy efforts."

Chênevert, in response to the announcement, said that he looks forward to advancing "policies that encourage companies to invest, hire and expand."